State Treasurer Brad Briner announced today Moody’s has affirmed North Carolina’s Aaa rating on its outstanding general obligation bonds. The credit rating agency declared: “North Carolina is one of the strongest states according to nearly every measure.”In its rating Moody’s said: “North Carolina's Aaa issuer rating recognizes very low leverage … and an economic growth rate that continues to outperform nearly all other states in the region.”
Press Releases
The city of Charlotte (Mecklenburg County) will move forward with long-planned street work and neighborhood improvements after receiving Local Government Commission (LGC) approval of a $200 million request to issue a short-term bond.
The North Carolina Department of State Treasurer and CVS Caremark (Caremark) have successfully reached an agreement regarding their ongoing contract dispute, securing hundreds of millions of dollars on behalf of the members of the State Health Plan (Plan). This agreement provides certainty to both parties around pharmacy pricing and payments. Additionally, this agreement gives the Plan the ability to negotiate directly with manufacturers of GLP-1s to potentially restore coverage of weight-loss medications to members.
After months of negotiations, the North Carolina State Health Plan (Plan) is pleased that Duke Health prioritized continued service to its members. The deal reached between Duke Health and Aetna, which serves as the Plan’s third-party administrator, will deliver high-quality care with a focus on better outcomes and efficiency. We particularly want to thank Dr. Tom Owens of Duke Health for his role in seeking an innovative solution to these negotiations, and our partners at Aetna for their steadfast commitment to affordability.
The North Carolina State Health Plan (Plan) Board of Trustees approved a resolution today to direct Plan staff to take necessary actions if Duke Health and
Negotiations are still ongoing between Duke Healthcare and Aetna, with their contract set to expire in less than a month. The State Health Plan (Plan) is Aetna’s largest client in our state and is watching the talks closely. In preparation for potential failed negotiations, Plan members who use Duke Healthcare will be receiving a letter from the Department of State Treasurer this week to discuss next steps. In addition, State Treasurer Brad Briner released this statement to all Plan members this morning explaining why this negotiation is so important for everyone:
The Department of State Treasurer has successfully allocated nearly $150 million to communities in need in Western North Carolina. This money is meant as a way to help local governments get back on their feet as they wait for the federal government to send much needed relief dollars.
Local Government Commission (LGC) members cleared the way on Sept. 9 for the state to contract for an outside, independent audit of the Winston-Salem/Forsyth County Schools. The school system has been cited for financial mismanagement and a $46 million budget deficit that led to eliminating 350 positions.
State Treasurer Brad Briner has uncovered $170 million in unspent and unallocated funds as part of a detailed review of the state’s accounts.